At the firm's Annual General Meeting
Casino resorts owner James Packer claims “punters are killing us”
2014-10-20
Reading time 33 seg
(Australia).- Owner of Crown Resorts casino company, James Packer, said at the Annual General Meeting of shareholders that the company’s VIP segment of the business had been hit hard. He explained it was USD 100 M off where it should be with only four months into their financial year.Packer told shareholders that ‘the punters are killing us.
‘Our VIP businesses is almost USD 100 million below the theoretical result less than four months into the financial year due to an adverse win rate or put simply, bad luck,’ Packer said.
Although he said that the house always wins at present that is not the case, group CEO Rowen Craigie told the AGM that local trading had been ‘impacted by general softness in consumer sentiment’ and that the roll of the dice had even affected Macau, which had suffered a slump.
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